Riding The Wave News Summary 165
Ripple says U.S. banks will want to use XRP cryptocurrency after partial victory in SEC fight, Nasdaq halts launch of cryptocurrency custody service, & more.
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Ripple says U.S. banks will want to use XRP cryptocurrency after partial victory in SEC fight
Sen. Cynthia Lummis: Crypto regulation bill could prevent another FTX-style crisis
SEC Urged to Abandon Crypto 'Crusade' by Congressman Torres After Ripple Legal Battle
Tweets
https://twitter.com/WatcherGuru/status/1681757400087314432
https://twitter.com/WatcherGuru/status/1681739740339486721
https://twitter.com/WatcherGuru/status/1681686900992618497
https://twitter.com/WatcherGuru/status/1681658632138530817
https://twitter.com/WatcherGuru/status/1681505336354652160
https://twitter.com/WatcherGuru/status/1681514269286825985
https://twitter.com/WatcherGuru/status/1681335459337719814
https://twitter.com/DegenSpartan/status/1681281178853322752
https://twitter.com/WatcherGuru/status/1681005004499419139
https://twitter.com/callieabost/status/1681045777517355010
https://twitter.com/WatcherGuru/status/1680779260292747264
Ripple says U.S. banks will want to use XRP cryptocurrency after partial victory in SEC fight
Blockchain startup Ripple is confident U.S. banks and other financial institutions in the country will start showing interest in adopting XRP
in cross-border payments after a landmark ruling determined the token was not, in itself, necessarily a security.
The San Francisco-based firm expects to start talks with American financial firms about using its On-Demand Liquidity (ODL) product, which uses XRP for money transfers, in the third quarter, Stu Alderoty, Ripple’s general counsel, told CNBC in an interview last week.
“I think we’re hopeful that this decision would give financial institution customers or potential customers comfort to at least come in and start having the conversation about what problems they are experiencing in their business, real-world problems in terms of moving value across borders without incurring obscene fees,” Alderoty told CNBC Friday.
“Hopefully this quarter will generate a lot of conversations in the United States with customers, and hopefully some of those conversations will actually turn into real business,” he added.
Nasdaq halts launch of cryptocurrency custody service
Global securities marketplace Nasdaq is halting the launch of its own cryptocurrency custody that it previously planned to roll out by the end of the second quarter of 2023.
It suspended the launch because of regulatory risks in the United States, CEO Adena Friedman announced during the firm's Q2 results call.
“This quarter, considering the shifting business and regulatory environment in the United States, we have made the decision to halt our launch of the U.S. digital assets custodian business and our related efforts to pursue relevant license,” Friedman stated.
Sen. Cynthia Lummis: Crypto regulation bill could prevent another FTX-style crisis
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